Make Money Trading Futures

Written by Jacey Harmon

Making money trading futures is easier said than done. There is a saying on the street that nine out of 10 traders lose. But it is not impossible to become one of the elite and become a successful trader. With a little hard work, persistence, discipline, and dedication one can become a successful trader.

Attributes of a Successful Futures Trader

The futures market is a tough market that will put your mental toughness to the test. Successful traders have shown certain psychological attributes. Having the ability to identify your strengths and weaknesses is very important to becoming a successful trader. Since you are the one making the trade, it is only through self-evaluation you can become a better trader.

Having the discipline to stick with a trading plan is essential. Discipline will keep your emotions--a trader's worst enemy--in check. Resiliency is also important as you will be faced with losses. Having the discipline to stick with a trading plan and the ability to shake off mistakes and losses are valuable mental attributes a trader possesses.

Keep in mind that success in the futures market does not happen overnight. It takes time and dedication to become a good trader. Exhibit patience in both the time it takes to become successful and the time it takes for a trade to work. You will make mistakes, but it is important to learn from those mistakes. Trading is an emotional roller coaster that not all people are cut out for. For those that can handle the emotional ups and downs, the futures market offers tremendous opportunities that you would have a hard time finding elsewhere.